Charlty repirtralion number 1161904 Company reglstratlon number08966275 (England and Wales) JAMES HIRONS ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
JAMES HIRONS LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs B Beal Mr D Eccleston Mr A Givens Mrs N S3wdon Mrs A Stevens Mrj Mace Mr G Dryden Dr P Cullen (Appointed 17 July 20241 (Appointed 2 September 20251 (Appointed 2 September 20251 (Appointed 2 September 20251 Charlty nurnber 1161904 Company numbef 08966275 Reglstered office 53 Lillington Road Leamington Spa Warwlckshlre CV32 6LD Audltor Bur815 & Bullock 23-25 Waterloo Place Leamington Spa Warwlckshlre CV32 SLA Banker5 Handelsbanken Myton House 40 Holly Walk Leamin8ton Spa CV32 4HY Inve5tmert advlsors Evelyn Partners 9 Colmore Row Birmingham B3 2BJ
JAMES HIRONS CONTENTS Pale Trustees, report Statement of tru5tee5' re5pon5ibilities Independerrt auditor's report 9-12 Consolldated ststement of financial attivities 13-14 Group balance sheet 15 Balance sheet 16 Statement of cash flow5 17 Note5 to the financial statements 18-34
JAMES HIRONS TrUSTEES' REPORT IINCWDING DIRECTORS, REPORTI FOR THE YEAR ENDED 31 MARCH2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The James Hirons Care Home 15 a voluntary organisation having charitable statu5, adminlstered by a Board of Trustees to provide residential and convalescent accommodation mainly for the elderly. It was established with the endowment of the late James Hirons in 1953. The james Hirons charity is governed by a Charity Commi55ion Scheme dated 16 December 1986. The Compary Limited by Guarantee is governed by the Artides of Kssociation dateil 28 March 2014. An elegant and spaciou5 Edwardian bulldin& the James Hirons Home today provides a warm and welcoming home for persons requiring lon8 term or respite ca. The Home is registered for twenty-three residents. The James Hirons Home is rated by the Quality Care Commisslon ICQCI as 'GOOD' both Overall and in all 5 Kev Question Area5. In line wlth CQC requirements we submltted our annual Provlder Informatlon Request In June 24. The financial statements have been prepared In accordance with the accounting politie5 set out in note I to the financial statements and comply with the charity's parent charitable cornpany's article5 of association dated 14 March 2014 as amended by speoal resolutlons dated 17 September 2015 as amended on 31 July 2023, the Companles Act 2006 and "Accounting and Reporting by Charitles: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. Objectives and actlvlths The Charity exists to provide accommodation, together with residential care, whilst primarily for the eldeAv in Leamington Spa and the surrounding dlstrlcts, we can now take residents from further afield. Prospective residents are encouraged to enter the Home for a trial period befo taking up residence, to ensure that it 15 suited to their needs. Respite care is also offered. We are also reviewing our 5 year Strategy to consider how best to meet the changlng health and social care needs of our older population. The Charity's overall aims and objettives a.. To provide a high level of care for mainly elderly people in a Safe. Te5ponsive, warm and friendly environment; to treat them wlth respe¢ and ensure that every day is a day worth living. It is their home. To observe current requirements of health and safety arsd other wulatlons for resldents and staff. To constsntly upgrade the fabric of the Home and surrounding gardens. The Trustees, and staff objective of providin8 a high level of care has been borne out by regular assessments by the CQC that rated us as good In 202212023. Work continues to maintaln the good rating as a minimum and ideally moving towards an outstanding rating In future. During the year to 31 March 2025, we have welcomed new residents and staff. Throughout thls time our residents, their families and our staff have worked with us to prevent hami and keep our residents. families and staff safe, and we are pleased to report that there were no outbreaks of COVID durin8 this perlod. Our dillgence and focus on safety continues.
JAMES HIRONS TRusfEES' REPORT {INCWDING DIRECTORS, REpoKf) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees are responsible for monthly Provider Visits to the Home and contlnue. In turn, to cornplete a Report Form that ensures feedback and learning on all CQC Key Lines of Enquiry. However, these have recently been reviewed and are currently OLrt for consultation by the CQC. Once finalised by the CQC, we will update our quality aSSUfance framework to refiect these. The Trustees have also complied wlth the commrtment for a full Independent Evaluation of the Home annually. Approaches to obtaining feedback from residents, their families and staff continue to be progressed and le550ns learrkt. The Trustees confirm that, to the best of their knowled8e and belief, they have complied with Section 4 of the Charities Art 2006 in respect to having due regard to Publlc 8eneflt Guidance published by the Charity Commls51¢)n. In addition to the James Hlrons Home itself, 5UPPOrt ha5 been provided for continued financial support to the Admiral Dementia Care Community Nurse service at the local hospltal Trust. The charity has not engaged In any fundraislng programmes. Covld-19 Trustees are very aware that Covld 19 continues to present ongolng cOnrn5 and rlsks for resldents and for its staff. The Trustees and managing staff continue to comply stringently with all related Government directives. Goln8 Concem The Home has enjoyed a good year after the challenges of the past four years. Occupancy has increased including continued Increase in respite care. The Home is fortunate to have a substsntlal Investment portfolio which continues to generate signifitant income to Supplement income from occupancy. Lower than anticipated occupancy is stlll our blggest rlsk and we have put plan5 in place to mitigate this. These Include creating MO bed5 for resplte, offerlng Ilay care whilst a150 reviewing and strengthening the marketing of our Service to the Leamington community. We are fortunate that many referra15 come through personal recommendation5 but we are also pursuing Other avenues of local advert15ing induding the funding to secure a new ¢Jisabled-friendly people carrier later in 2025 with the Home being advertised on the side, new slgna8e, a refreshed web51te with an enhanced interface an(1 Ilnks for those looking at potential care homes. Many of our residents continue to participate in social activities against the backilrop of keeping safe with plan to appolnt an additional artivity co-ordinator, bringing us up to two later in 2025. arranging an array of drfferent activitles, Outlngs and exercises. Trustees recognise that the world is chan8in8 as people a living longer and potential residents a increa5in8ly a55e55ed a5 requiring more significant moblllty and cognltlve support than might have been the case a few years ago. For this reason, and despite the potential, albeft hopefully temporary impact this may have on income from resident fees, the Trustees have and will continue to 5UPPOrt the Home Manager's judgement when balancin8 healthy cKcupancy targets with professional and clinical judgement about resident referrals, particularly Sn the context of an ageing intake, dementia, a more dependent population and pressures on health and social care. The Trustees are confident that there are Sufficient assets to finance day to day opeTations for the foreseeable future, being a period of 1Ve months after the date on which this Report and the Financial Statements a signed and. therefore. continue to adopt the going concern basls.
JAMES HIRONS TRUSTEES, REPORT IINCWDING DIRECTORS, REPORT) ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Rlsk Mana8ernent The Trustees review the internal controls, risk management and compliance systems of the Charity and implement risk management strategies. Thi5 involves identifying the types of ri5k5 the Charity faces, Pfioritising them In terms of potential impact and likelihood of occurrence and providing means of mitigating the risks. Prfnclpal rlsks and un¢ertalntles The Charity tske5 an artive approach to managing risk. Key risks are identified, rated and mitigation strategles devlsed using the Charity'5 risk register. The Trustees wiew the risk register on an a bi-monthly basis. Financial rlsks are stress tested to understand what level of financial management 15 required, what impact the risk will have and how severe the 51tuation would have to become before the risk could no longer be managed. On the risk register the likelihood of all rlsks Is then assessed, where likelihood and impact are eath assessed on a Scale of I Ilowl to 5 Ihighl. For each risk the Ilkelihood and impact scores are multiplied by each other to give a risk ratin8 score between l and 25 where S is a risk of low priority and 25 15 a fundamental risk. In the 202412025 financial year, the primary risk5 to the charity continued to be: Residential otcupation. b. Any event Causing damage to reputation. Retslnlng staff and market difFicultie5 in recruiting appropriate permanent stsff. d. Income. Volatillty of global stock market5 and the potential adverse impact on capltal walues and investrnent. Results The Charity continue5 to be recognised as providing '8ood' services to its residents by the CQC 055essments, provider assessments, and by Feedback received from resldents and families. In 24125 the bed occupancy rate was 82%123124 71%). The Governmenvs continued policy of care in the community has meant more people are staying in their own homes longer and the requirement for residential care is delayed or no longer appropriate. However, relaxation of the criteria laid down by CQC as regards to keepin8 a Sident when they become more dependent continue5 to have a positive impact on occupancv. It has been a successful year in appointing staff of the calibre we quire to maintain the high 5tandard5 that have been set in the Home.
JAMES HIRONS TRUSfEES' REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH2025 March 2025 March 2024 Income from Charitable Actlvities 1,225,038 883,326 Investment Income 125.406 131,337 Total Income 1,352,660 1,015,2CKI Total Expenditure 1,425,034 1,350,359 Investment Policy The Charity continues to employ Evelyn Partners as Investment manager to manage the Charlty's Investment portfolio on a discretionary basis. The Charlty has set out the following objeciives for Evelyn Partners in its Statement of Investment Principles. The creation of a sufficient financial return to enable the Charity to carry out its purp05e5 effectively and without interruption The maintenance and enhancement of the investment funds over the long term To obtain a reasonable balance between capital growth and income so th* the Charlty can meet future as well as current needs To maintain a medium risk profile The Trustees. pollcy Is to Invest in an approprlate rnlx of real assets l.e., equltles. flxed interest securities, alternatlve assets and monetary assets. The Trustees recognise that the returns on equities, while expected to be greater over the longer term than those of fixed interest and monetary assets. are likely to be more volatile. Investment In a mlx of asset classes should nevertheless provide to mltlBate volatility for the Charity to achieve its objettives. The Trustee5 asked Evelyn Partners to move the investments from a stage 5 to a stage 6 risk. Thi5 is only a marginal chan8e but 15 likely to increase investment income. Our Investments have performed well in what have been challenglng market condition5. Valuatlons and reports are produced by Evefyn Partners on a quarterly basls to colndde with the Charity's financlal year end. Investment meetings are convened with Evelyn Partners on a yearly basis involving both the Finance committee and the Full Board of Trustees. The Trustee5 have the power to invest in such investments as they see fit. Evelyn Partners. Investment Manager, continues to advise the Charity on its investments. The Board's pollcy Is to maxlmlse Income whllst preseNing the al value of endowments.
JAMES HIRONS TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) ICONTINUEOI R>R THE YEAR ENDED 31 MARCH 2025 March 2025 March 2024 Portfolio value Investment Income 4,357,389 125,406 4.373,599 131,337 Geographical asset allocation: UK Equitie5 Overseas Equitie5 Alternative and Multi-Asset Fixed Inte$t Cash 18 57 13 li 23 49 13 14 The investment portfolio is overseen by the Finan sub-committee. which meet5 the Charitv's advisor on an annual basis. Investments are measufed against the market as a whole. Included within the Statement of Flnanclal Actlvotles is a gain on revaluation of £10.248 compared to a gain of £308.041 in 2024. The Charity has a pollcy of malntslnlng a level of surplus liquid tsJnds in short-term deposits and investments to meet liabilities as they arise and planned eKpenditure. The aim is to use investment income to meet larger repair bills and capitsl items as they arise and to support residents, whose funds rnay become depleted, renderlng them unable to afford the full cost of their care. Whilst worklng towards its target of athleving break-even on its operations, the Home also uses its investment income to make good any shortfall. Re5erve5 Pollcv The Trustees have reviewed the reserves of the Charity and intend to maintain reserves in excess of 51X months expenditure. In the last 12 months expenditure totalled £1,404,576 and the Trustees confirm that reserves are at an adequate level to provide a buffer for interruptions to Servi$, Includlng periods where income 8enerating artivities may be suspended temporarily. Total unrestritted reserves being £1,375,137 12024- £1,459,334) an(1 totsl entlowment fund reserve5 being £4,246,37512024- £4.230,3371. The Charity remains low geared with an annual Income of £1,352,660 and a toLIl balance sheet of £5,621.512. Future Plans As Trustees, we continue to explo ways to improve the quality of our Services and scope of our care provided by the home. We continue to work on implementing a day care facility. In addition, our eth05 of 'Making Everyday a Day Worth Living, has been implemented during the year. Alongside current surveys and feedback questionnalres. Trustees an(1 staff continue to consult with residents. famllles and staff about what could usefully be added to the Home's curnt offer - from 'extra mile, to bigger ideas. The Trustees will continue to prioritise and action a5 marhy of these as posslble over the coming year.
JAMES HIRONS TRUSTEES, REPORT (INCWDING DIREcfoRS' REPORn ICONTINUED) FOR THE YEAR ENDED31 MARCH 2025 Strurture, 8overnan¢e and management A Board of Trustee5 comprising of volLtnteer members dur6n8 the year meets at least On every tsvo months to admlnisterthe Charity. The Board is supported through a contract wSth Bur81s and Bullock. A Home Manager IRN Dip H Ed. RMAI, Deputy Home Manager and offi Manager are appointed by the TrLrstees to manage the day-to-day operations of the Charity, supervise the staff and ensure that all operatlonal gUlatOry requirements are met. They liaise closely with the Trustees, and report to the full Committee of Trustees and sub-committees for advice. support and overall decisions. The trustees, who are also the directors for the purpose of company law, and who Served during the year and up to the date of signature of the financial statements were- Mr5 B Beal Mr D Eccleston Mr A Givens Mrs M Stark Mrs N Sawdon Mr D Poynton Mrs A Stevens Mrj Mace Mr G Dryden Dr P Cullen (Resigned 20 May 20251 (Resigned 19 September 20251 (Appointed 17 July 20241 (Appointed 2 September 20251 (Appointed 2 September 20251 (Appolnted 2 September 20251 Trustee5 are appointed for a term of the year5. Conslderation is given when recruiting new Trustees to preserving the balance of ski115 on the Board that a required for the running of the organisation. Prospective Trustees are drawn from the local community, and all are individuals who hold or held positions of responslbllity and have relevant skills and knowledge. Inltlal contsct with prospertive Trustees leads to an informal meeting with existing Trustees Whe they are given key basic informatlon. On appointment. a full pack of information on the Charity is provided. All new and estsblished Trustees a enwuraged to tske advantage of training and development opportunltles. During the PortIng year, the National Care Forum INCFI that represents care sertor members, continues to provide extensive up-to-date informatiorb on policy 3nd guidan. training. net-working and support. All Trustees re&Ve natlonal updates and briefings weekly and also link into dedicated Fora includin8 Finance. Governance, HR, Prartlce and Qualtty. In addition to meetings of the full Board, the are five subrfommittees:_ Finance Personnel Rlsk Management Servlce Improvement IT Finance Including investments HR Internal controls, risk management and compllance Wems of the Charity Quality and Safety Information Technologyl Cyber Securityl Digital A combination of Trustees and Management sit on these committees which all report to the main 8oard.
JAMES HIRONS TRusfEES' REPORT IINCWDING DIREcfoRS' REPORT) ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Arrangements for settlng pay and rernuneratk*n, and staff retentlon Led by the Personnel Sub-committee, Trustees review salarie5 and other benefits of key management personnel and other staff annually, taking account of relevant market data, induding a review of the manager's job description and appraisal. To Improve further our staff benefits packagei the Discretionary Slckness Pay Policy was reviewed and applied in line with Legislative Guidance and Best Practice. Staff retentlon at James Hiron5 is high and. unlike across the sector. the satisfactory recruitment of 5uitsble new carers and senior carer5 has been successfijl. There is also a wish to become less reliarrt on agency staff. During the reporting year, therefore, the Personnel and Finance sub<ommlttees have continued to review staff pay and Term5 and Condltlons of Employment. The following benefits are in place for all permanent Staff.. a significant pay award, 'Death in Service, Benefit,. direct a¢ce55 to a BUPA Counselling Support Service,. introduction of a discretionary Staff Welfare Fund. All these actions are aimed at recognising the dedicatlon and hard work of our skilled Staff, encouraging their retention. and offering an attractive new recruiting package. Nonetheless, we recognise that there is no room for complacency and we continue to listen to and learn from our staff including Equality, Diversity and Inclusion that is embedded in our revised policies, training and day to day applicatlon. Auditor In accordance with the company's articles, a resolution proposing that Burgis & Bullock be reappointed as auditor of the company will be put at a General Meeting. Dls¢l¢sure of Information to audltor Each of the trustees has confirmed that there is no infomiatlon of whlch they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identlfy such relevant information and to estsblish that the auditor15 aware of such Information. The trustees, report was approved by the Board of Trustees. Mrs B Beal Mr Mace Date: .. l.%.l.i.!./.lQ..1S........
JAMES HIRONS srATEMENT OF TrUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH2025 The trustees, who are also the directors of James Hirons for the purpose of company law, are responsible for pParIng the Trustees, Report and the financial ststements in accordance wlth applicable law and United Kingdom Accounting Stsndard5 Iunited Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affair5 of the charity and of the incornir resources and application of resources, Including the Income and expendlture. of the charitable company for that year. In preparing these financial statements, the trustees are required to: - selett Suitable accounting policies and then apply them conslstently: - observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent- stste whether applicable UK Accounting Standards have been followed. suble¢t to any material departures disclosed and explained in the financial Statements; and prepare the flnancial statements 011 the going concern basis unless it Is Inapproprlate to presume that the charity will continue in operation. The trustees are responsible for keeplng adequate accounting CordS that disclose with reasonable accuracv at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companie5 Act 2006. They are a150 re5ponslble for safeguarding the assets of the charbty and hence for taking reasonable steps for the prevention and detertion of fraud and other irregularities.
JAMES HIRONS INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JAMES HIRONS Oplnlon We have audited the financlal ststements of James Hiron5 1"the parent charftsble company") and Its subsidiary (together "the group") for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Group an(1 Parent Charitable Company Balance Sheets, the Con501idated Cash Flow Statement and notes to the financial 5tatewnents, including significant accounting policies. The financial reporting framework that has been applieil in their Preparation 15 applicable law and United Kingdom Accounting Standards, including Financlal Reportlng Stsndar(1102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited Klngdom Generally Accepted Attounting Practice). In our opinion. the financlal ststements.. 81ve a true anil fair view of the State of the group's and parent charltsble company's affairs as at 31 March 2025 and of the 8roup'5 incoming resource5 and application of resOue$, for the year then ended; have been properly prep31ed in accordance with Unlted Klngdom Generally Accepted Accounting pract1. and have been prepared in accordance wlth the requirements of the Companies Act 2(MJ6. Basls for oplnlon We conducted our audit in accordance with International Stsndards on Auditing IUKI IISAS IUKII and appllcable law. Our responsibilities under those standards are further tlescribed in the Auditors responsibilltles for the oudit of the fint7nciul statements sertion of our report. We a independent of the charity in accordance with the ethical qUirementS that are relevant to our audit of the financlal ststements in the UK, including the FRC'S Ethlcal Standar(I, and we have fulfilled our other ethical sponSibl11t1eS In accordance with these requirements. We belleve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinlon. Concluslons relatln8 to golng concern In auditing the financial statements, we have conclude(I that the tru5tees' use of the going concern basis of accounting in the preparation of the financial ststements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relatin8 to events or conditions that, individually or collettively, may cast significant doubt on the parent charltable company's ability to continue as a 8oin8 concern for a period of at least twelve months from when the financlal ststements are authorised for issue. Our responsibilities and the responsibiif(ies of the trustees with respett to going concern are described in the relevant 5eciion5 of this report.
JAMES HIRONS INDEPENDENT AUDITOR'S REPORT (copillNUED) TO THE MEMBERS OF JAMES HIRONS Other Informatlon The other information comprises the informatlon Included in the annual report other than the financial statements and our audltor's rep¢)rt thereon. The trustees are responslble for the other information contained withTn the annual report. Our opinion on the financlal statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express ary fomi of assurance conclusion thereon. Our re5pon5ibility 15 to read the other informatlon and, in doin8 $0, consider whether the other Infrjrmatlon is materially incon515tent with the financial statements or our knowledge obtained in the course of the audit. or othemise appears to be materially misstated. If we identify such material inconsistencies or apparent material mi5Statements, we are required to detemiine whether thls gives rise to a material misstatement In the fftnancial statements themselves. If, based on the work we have performed, we conclude that there is a material misrtatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters prescrlbed by thè Companles Aci 2006 In our opinion, based on the work undertaken in the course of our audlt: the information given in the trustees, report ft)r the financial year for which the financlal statements are prepared, which includes the dirertors, report prepare(J for the purp05e5 of company law, is consistent with the financial statements,. and the directors, report included within the tru5tee5' report h35 been prepared in accordance wlth applicable legal requirements. Matters on which we are required to report by exceptlon In the light of the knowledge and understsndlng of the group and the parent charitsble company and Its environrnent obtained in the CQLtYse of the audlt, we have not identified material misstatement5 in the trustees, report. We have nothlng to report In respect of the followi matters in latiOn to whlch the Companles Act 2fX16 requires us to report to you If, In our opSnion.' adequate accounting records have not been kepL or returns adequate for our audit have not been received from branches not visited by us,. or the financial statements are not in agreement with the accounting records and returns,. or certain disdosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we qUIre for our audit,. or the trustees were not entitled to prepare the finJncial statements in accordance with the small companie5 regime and tske advantage of the small companies, exemptions in preparing the trustees, report and from the requirement to Ppare a strateglc report. 10-
JAMES HIRONS INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF JAMES HIRONS Responslbllhles of trustees As explained more fully in the ststement of trustees, responslbilttles, the trustees. who are also the dlrectors of the parent charitable cornpany for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair vlew. and for such internal control a5 the trustee5 determine is necessary to enable the preparation of financial ststementS that are free from material mi5ststement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group'5 and the parent charitable company's ability to continue as a going concern. dlscloslng, as applicable, matters lated to going concern and using the going concem basis of accountin8 unless the trustees either intend to liquidate the charitsble company or to cease operations, or have no realistic alternative but to do 50. Auditor'5 r•spons5bllltl•s for the audlt of the financlal statsments Our objectives are to obtsin reasonable assurance about whether the financial statements a5 a whole are free from material miternent, whether due to fraud or error, and to 155ue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordan with ISAS IUKI will always detect a material mlsstatement when It exists. Mlsststements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial ststementS. Irregularities, includirbg fraud, are instsnces of non-compliance with laws and gUlations. We design procedure5 in line with our responsibilltSe5. Outllned above, to detect material misstatements In respect of Irregularities, Including frdud. The extert to which our procedures are capable of detectin8 irregularities, includin8 fraud, is detailed below. We gained an understsndlng of the legal and regulatory framework applicable to the group and the parent charitable company and the sector in which It operates and assessed the extent of compliance with these law5 and regulations as part of our procedures on the related financial statement items. Based on our understanding of the charity we identified that the princlpal rlsk of non-compllance wlth laws and gUlatIonS related to breache5 of the Charities Act 2011,. Companies Att 2CKJ6,' Safeguarding and GDPR gulations,. the charity's 8overning scheme dated December 1986 and the parent charitable cornpany's Boverning articles dated March 2014. We also evaluated management incentive and opportunities for fraudulent manipulations of the financlal statements. 11
JAMES HIRONS INDEPENDENT AUDITOR'S REPORT (CONTINUED) TOTHE MEMBERS OFJAMES HIRONS Audtt procedure5 performed included: Reviewing return5 made to Companies House, Charlty Commlssion and HMRC,. Di5CU55ion5 With management, including consideration of known or suspected Incidences of non- compliance with law5 and regulation and fraud- Identifying and assessing the design effectiveness of controls In management have In place to prevent and detett fraud,. Challenging a55umptions and jud8ment5 made by management in their significant accountlng estlmates and assessing if these indicate evidence of rnanagement bia5: Reviewing the accounting records for large and unusual bank payments and testing any identified and in particular the rationale for any transattions which appear to be outside of the plnt charitable company's objectives: Testing a sample of debit entries in the profit and 1055 account to check they are bona-fide costs in accordance with the parent charitable company's objettives- and Testing for the existence of related party transartions and confirmlng identlty of relevant partles with Trustees. Because of the Inhent limitstions of an audit, there is a risk that we will not detect all irregularities, including those leading to a material mlsststement in the financial statements or non-compliance with regulation. Thi5 risk Increases the more that compllance wlth a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instsnce5 of non-compliance. The risk is also greater regarding IrgUIaritles occurrin8 due to fraud rather than error, as fraud involves Intentional concealment, forgery, collusion, omi55ion or misrepresentatlon. A further descrlptlon of our responsibllltie5 Is available on the Financial Reporting Council's website at.. https'.Ilwww.frc.org.uklaudltorsresponsibilitie5. This description forms part of our auditor's report. Use of our r•port Thls report Is made solely to the charitsble compan$ members, as a body, in accordance wSth Chapter 3 of Part 16 of the Companies Art 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matter5 we are required to State to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or a55ume responsibility to anyone other than the charitsble compary and the charitsble Company's mernbers as a body, for our audit work, for this report, or for the opinions we have formed. Wende Hubbard FCCA (Senior Ststutory Audltorl for and on behallof Buryls & Bullock É" z)23 Chartered Actountants Statutory Audltor 23-25 Waterloo Place Leamlngton Spa Warwickshire CV32 SLA 12-
JAMES HIRONS srATEMENT OF FINANCIAL AcnviTIES FOR THE YEAR ENDED 31 MARCH2025 Unrestrltted Endowment fvnds fund5 2025 2025 Tt)tal Unrestricted Endowrnent funds lunds 2024 2024 Total 2025 Z024 Income and endowments from: Donations and le8acies Charitable attivities Investments Other income 1.565 1,225,038 125,406 651 1,565 1,225,038 125,406 651 385 385 883,326 131.337 152 883.326 131.337 152 Totsl Income 1.352,660 1,352,660 1.015,200 1,015,21]0 Expendlturo on: Ralslng funds Charitable activities 5,802 1.379,193 14,656 20,458 25,383 1,404,576 8,596 1.300,338 11.413 20,9 30,012 1,330,350 Total expendlture 1,384,995 40,039 1,425,034 1,308,934 41.425 1,350.359 Net 8alnslllossesl on Investments 12 151,8621 56,077 4,215 90.423 210,054 3(X),477 Net lftcomel{expendlturel and movement In funds 184,1971 16,038 168,1591 1203,3111 168,629 134.6821 Reconclllatlon of funds: Fund balances at l Aprll 2024 1.459,334 4,230,337 5,689.671 1.662,645 4.061.708 5,724,353 Fund balances at 31 March 2025 1,375,137 4,246,375 5.621,512 1,459,334 4,230,337 5,689,671 13-
JAMES HIRONS STATEMENT OF FINANCIAL ACTIVITIES {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 The ststement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from eontinuing activitie5. The statement of financial actlvities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 14_
JAMES HIRONS GROUP BALANCE SHEEr ASAT31 MARCH 2025 2025 2024 Note5 Fixed assets Tangible assets Investments 13 14 1,175,712 4,357,389 1,213,252 4,373,599 5,533.101 5.586.851 Current assets Debtors Cash at bank and in hand 16 36,798 235.879 28,098 257.552 272,677 285,650 Creditors: amounts falling due within one year 17 1184,2661 1182.8301 Net current assets 88,411 102,820 Total assets less current liabilities 5,621.512 5.689,671 Capital funds Endowment funds- general Income funds Unrestricted funds 19 4,246,375 4,230,337 1,375,137 1,459,334 5,621,512 5,689,671 The financial statements were approved by the Trustees on . Mrs B Beal Trustee Mrj Mace Trustee Company registration number 08966275 15
JAMES HIRONS PARENT COMPANY BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets Investment5 13 14 1,175,712 1,249,339 1,213,252 1,307,354 2,425,051 2,520,606 Current assets Debtors Cash at bank and in hand 16 36,798 235,879 28,098 257,552 272,677 285,650 Credltors: amounts falling due within one year 17 1180,5821 1179,5301 Net current assets 92,095 106,120 Total assets less current liabilities 2,517,146 2,626.726 Capital funds Endowment funds- general Income funds Unrestricted funds 19 1,142,009 1,167,392 1,375,137 1.459,334 2,517,146 2.626,726 The finantial statements were approved by the Trustees on .. Mrs B Beal Trustee l Mace Trustee Company registration number 08966275 16-
JAMES HIRONS CONSOIIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash absofbed by operations 23 1167,5051 1426,5011 Investing artlvitles Purchase of tangible fixed assets Purchase of investments Proceeds from disposal of investments Investment income received 148.6311 1274,5911 680,449 131,337 1722,8941 714,538 125,406 Net cash generated from Investing activities 117,050 488,564 Net cash used in financing activities Net Ide¢rease)/lncrease in cash and cash equivalents 150,4551 62,063 Cash and cash equivalents at beginning of year 303,330 241.267 Cash and cash equivalents at end of year 252,875 303,330 Relating to: Cash at bank and in hand Short term deposits included in current asset investments 235,879 257,552 16,996 45,778 17-
JAMES HIRONS NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH2025 Aryountlng polkles Charlty InfOrntIon Jame5 Hirons is a private company limited by guarantee incorporated In En8land and Wales. The reglstered office is 53 knllington Road, Leamington Spa, Warwkkshlre. CV32 6LD. 1.1 Accountln8 ¢onventlon The financial statements have been prepared in accordan with the parent charitable compan5 artScles of association dated 28 March 2014. the Companles Act 2LXJ6. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. I"FRS 102.1 and the Charitie5 50RP "Accounting and Reporting by Charitie5'. Statement of Recommended Prattice appltcable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffective l January 20191. The charity is a PLtblic Benefit Entlty as defined by FRS 102. The financial statements are prepared in sterlin8, which Is the functlonal currency of the charity. Monetsry amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the hlstorical cost Convention, modified to include the revaluation of fixed a55et investments. The principal accountlng pollcles adopted a set out below. Bas of consolldatlon The group financial statements are the result of consolidation of the financial statements of the company and its subsidiary charity The James Hirons Care Home. The financial statements of both entities are made up to 31 March 2025. No separate SOFA has been presented for the charitsble company, following exemptions afftjrded bv the Companies House Act 21)06. 1.2 Golng concern The trustees have carried out a review of going concern as set out in the trustees POrt. At the time of approving the flnancial statements, the trustees have a reasonable expettation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the gotng concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are avallable for use at the discretion of the trustees in furtherance of their charitable objectives. Endowment funds are subject to speclflc conditions by donors that the capital must be maintsined by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is induded as unrestricted income. Any capltal galns or losses arising on the investments form part of the fund. Investment management charges and legal advice relatin8 to the fund are charged against the fund. 18-
JAMES HIRONS N(yfES TO THE FINANCIAL sfATEMEKfs (CONTINUED) R)R THE YEAR EAIDED 31 MARCH2025 Accountlng poll¢les Icontlnuedl 1.4 Income Income is recognised when the charity Is legally entltled to it after any perforniance conditions have been met. the amounts can be measured reliably. artd it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the tharity has been notified of the donation, unle55 performance conditions require deferral of the amounL Investment income Is eamed throu8h holding assets for investment purposes such as Sha5. It includes dividends and interest. Where it is not praLticable to identify investment management costs incurred within a scheme with aSOnable accuracy the investment income 15 reported net of these costs. It is included when the amount can be measud reliabty. Interest incorne is recognised using the effective interest method and dividend income is recognised as the charity's ri8ht to payment is established. 1.5 Expenditure Expendlture is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it 15 probable that a transfer of economic benefits wlll be quired in Settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by artivlty- The costs of each activity are made up of the total of dlrett costs and shared costs, including support costs involve(I In undertaking each activity. Direct costs attributable to a single actiwty are allocated directly to that activity- shared costs which contribute to more than one activity and support costs which are not attributable to a 55ngle artlvity are apportioned between those activlties on a basls conslstent with the use of resources. Central staff Costs a allocated on the basis of time spent, and deprIatIOn charge5 are allocated on the portion of the asset's use. 1.6 Tanglble Ilxed assets Tangible fixed assets are Inltlally measured at cost and subsequently meaSud at cost or Wdluatlon. net of depreciation and any impaimient1055es. All assets costing more than £5,Q)O are capitalised. DepcIatIon Is reco8nised so a5 to write off the cost or valuation of assets less thelr resldual values over thelr useful lives on the follobwng bases.. Freehold land and buildings Property improvements Fixtijres and fittings Computer5 Motor vehicles 150 years 5 years 4 years 3 year5 4 years The galn or loss arislnE on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and 15 cOgnised in the statement of financial activities. 19-
JAMES HIRONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policiqs Icontlnuedl 1.7 Hxed asset Investments Fixed asset inve5tment5 are initially measured at transaction price excluding transartlon costs. and are subsequently measured at fair value at each reporting date. Changes in fair value are recognlsed in net income/lexpenditurel for the year. Transaction costs are expensed as incurred. Reallsed galns and losses are calculated a5 the difference between sales proceeds and their opening carryin8 value or their purchase value if acquired within the year. Unrealised gains and losses a calculated as the dIffenCe between the fair value at the year-end and their carrying value. 1.8 Impairnient of fixed a55ets At each reporting end date, the charity reviews the carrySng amounts of its tangible assets to determine whether there is any indication that those assets have suffered an Impalrment loss. If any suth indication exists, the recoverable amount of the asset 15 estlmated In or¢ler to determlne the extent of the impairment1055 lif any). 1.9 Cash and ash equhrnlents Cash and cash equivalents include tash in hand, deposits held at call with bank5, Other short-term liquid investments with original maturities of three months or less, an(J bank overdrafts. Bank overdraft5 are shown within borrowings in current liabilities. 1.10 financial in5trument5 The charity has elected to apply the provisions of Section 11 'Baslc Flnancial Instruments, and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instruments. Flnanclal Instruments are recogni5ed in the charity's balance sheet when the charity becomes party to the contractual provisions of the in5trurnent. Financial assets and liabilities are offset, with the net amounts presented in the financial Statements, when there Is a legally enforceable ri8ht to set off the recognised amounts and there is an intention to settle on a net bas15 or to reallse the asset and settle the liablllty simukaneously. 8oskfindnclol assets Basic financial assets, which include debtors and cash and bank balances, are inltlally measured at transaction price including transaction costs and are subsequently carried at amortised cost Uslng the effective interest method unless the arrangement constitutes a financing transartion, where the transactlon Is measured at the present value of the future receipts discounted at a market rate of Interest. Flnanclal assets classified as receivable within one year are not amortised. -20-
JAMES HIRONS NOTES TO THE FINANCIAL STATEMErfft (COnNUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢¢ountln8 polici•5 Icontlnued) 8q5kflrtonclalllubllltles Basic financial liabilities, includlng creditors and bank loans are initially CogniSed at transaction prlce unless the arrangement constltutes a flnandng transaction, where the debt instrument is measured at the present value of the future payments discourhted at a market rate of interest. Financial liabillties classified as payable within one year a not amortised. Trade creditors are obligations to pay for goods or servi5 that have been acquired in the ordinary course of operati(Jn5 from Suppliers. Amounts payable are classified as current liabilities if payment 15 due within one year or less. If not, they are presented as nonwcurrent liabilities. Tra(ie creditor5 are recognised initially at transaction price and subsequently measured at amortlsed cost using the effective interest method. Dere¢oqnltlon offinonclolllabllltle5 Financial liabilitie5 are derecogni5ed when the charitvs contractual obligations expire or are discharged or cancelled. 1.11 Employee b8nefits The cost of any unused holiday entitlement is reco8ni5ed in the period in whith the employeds seThlces are received. Termination benefits are recognised immediately as an expense when the charity 15 demonstrably committed to terrninate the employment of an employee or to provlde termlnatlon benefits. I.IZ Retirement beneffts Payrnents to defined contribution retirement benefit schemes are charged as an expense as they fall due. 21
JAMES HIRONS NOTE5 TO THE FINANCIAL sfATEMEMfs ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Crftlcal accountln8 esllmates and Judlements In the applicatlon of the charlty's accountlng pollcles. the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The e5tlmates and associated assumptions are based on historical experience and other factors that are considered to be levant Actual results may differ from these estimates. The estimates and underlying assumptions are Teviewed on an ongoing b85is. Remslons to accounting estimate5 are reco8ni5ed in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Crltlcal ludgements Support Costs Support costs are allocated between the expenditure categories of the Statement of Financial ArtSvStle5 on a basi5 designed to reflecl the use of the resources. Costs lating to a particular actimty are allocated directly. Apportlonment of land and build# The land element of freehold land and buildlngs included In tanglble flxe(l assets has been split, for the purposes of depreciation, based on the trustees, best estimate. Income from thèrltsble artfvltles Unrestrirted Unreslrirted funds funds 202S 2024 Fees for residential care Resident fees 1,225,038 883,326
JAME5 HIRONS NOTES TO ThE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR EIVDED 31 MARCH2025 Donatlons and fundralslni Unrestrlcted Unreslrlrted lunds funds 2025 Donatlons anil Bifts 1,565 385 Inme fnlm investments Unrestrlcted Unrestrlcted funds funds 2025 2024 Income from listed investments Interest receivable 124.169 1,237 129,141 2,196 125,406 131.337 other income Unrestr5cted Unrestrfrted funds fund5 2025 2024 Other income 651 152 Expendlture on ralslnglunds Unrestrfcted Endowment funds funds 2025 2025 Totsl Unrestrlrted Endowment fund5 funds 2024 2024 Total 2025 2024 Investment management 5,802 14,656 20.458 8,596 11,413 20,009 -23-
JAMES HIRONS NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH2025 Charitable actlvttles 5identlal Resldentlal re care 2025 2024 Staff costs Depreciation and Smpalrment Food and household Activitie5 Repairs and maintenance Garden InSranCe Rates and utilities Agency fees Miscellaneous 814,669 37.539 76,209 5.172 40,146 4,384 18.722 59,426 161,799 1,490 734,022 32,783 64.660 4,050 41,659 7,797 19,123 58,667 143,277 14,625 1,219,556 1,120,663 Share of support costs (see note 91 sha of Bovernance costs (see note 91 175,920 9.ILY) 200,135 9,552 1,404.576 1,330,350 Analys15 by fund Unrestricted funds Endowment fund5- general 1,379,193 1,300,338 25,383 30,012 1,404,576 1.330,350 -24-
JAMES HIRONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs Support Goveman¢e costs costs 2025 Support Governance costs costs 2024 Staff costs Bookkeeping & administrative duties Overheads 88,457 88,457 95.353 95.353 20,094 67,369 20.094 67,369 26330 78,452 26,330 78,452 Audit fees Trustees, expenses 9,100 9,100 9,452 loo 9,452 100 175,920 9,100 185,020 200,135 9,552 209,687 Analysed betr4een Charitsble activities 175.920 9.100 185,020 200,135 9,552 209,687 None of the trustees lor any persons connected with them) received any remuneration or benefits from the charlty during the year. During the year 112024: 41 Trustee wa5 reimbursed expenses for advertising costs totalling £5912024-. £9321. No Tru5tees12024'. 41 We paid a contribution towards their printin8 costs12024: £1fy)1. 11 Employee5 The number of employees per month, on the basi5 of full time equivalents by analysed funrtions, was: 2025 2024 Number Number Dirert Support 18 17 Total 22 20
JAMES HIRONS NOTES TO THE FINANCIAL SrATEmEfs IcopillNUED) FOR THE YEAR ENDED 31 MARCH2025 11 Employees {Continuedl Employment costs 2025 2024 Wage5 and salaries Social security costs Other pension costs 791,343 66,279 45,504 729,042 59,138 41.195 903,126 829,375 The averd8e headcount during the year was 31 employee$12024.. 291- The nLsrnber of employees whose annual remuneration was more than £60,OtKI 15 as follows: 2025 Number 2024 Number £,000- £70.000 £70,000- £80,000 Remuneration of key rnanagement pusonnel The remuneration of key management personnel was as follow5: 2025 2024 Aggregate compensation 139,671 143,037 During the prlor year the previou5 aerk to the Trustees, Mrs E Mallender, provided bookkeeping and administrative duties to the Horne. Her fees for these services We £nll 12024 - £12.7411 and the balance owing at the year end was £nil12024 £nill. Mrs E Mallender ceased to be the aerk to the trustees during the previous year. 26-
JAMES HIRONS NOTES TO THE FINANaAL sfATEME14TS (COIITINUED) FOR THE YEAR ENDED 31 MARCH2025 12 Net oalnslllosses) on Inve5tments- GTOUP Unwestrirted Endowment funds funds general 2025 Totsl Unrestrlrted Endowment funds funds general 2024 Total 2025 2025 2024 2024 Revaluation of investments Gainlllossl on sale of investments 134,4661 44,714 10,248 94.144 213.897 308.041 117,3961 11,363 16,0331 13,7211 13.8431 17,5641 151,8621 56,077 4.215 90,423 210,054 31Y),477 Net gainslllosses) on Investments- Parent ¢haritable cornpanv Unrestricted Total Unrestritted funds Total funds 2025 2025 2024 2024 Revaluation of investments Gainlllossl on sale of Investments 134.4661 134,4661 94,144 94,144 117,3961 117,3961 13,7211 13,7211 151,8621 {51,8621 90,423 90,423 27.
£L
JAMES HIRONS NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH2025 14 Fixed asset Investments Fixed asset Investments- Groyp Cash In portfollo Totsl inV•5tment5 Cost or valuation At l April 2024 Additions Valuation changes Cash movement Disposals 4,327,820 722,894 4,215 45.779 4,373,599 722,894 4.215 128,7821 1714,5371 128,7821 1714,5371 At 31 March 2025 4,340.392 16,997 4.357,389 Carryln8 arnount At 31 March 2025 4,340,392 16,997 4.357,389 At 31 March 2024 4.327,820 45,779 4,373,599 The historical cost of listed investments amounts to £3.372,78012024- £3,297.0701 -29-
JAMES HIRONS NOTES TO THE FINANCIAL sfATEMENTS (COPMNUED) FOR THE YEAR ENDED 31 P*VIRCH2025 14 Fixed asset inve5trnents Icontlnuedl Flxed asset Inveslments- Parent charltsble companv Cash In portfollo Totsl Investments Cost orvaluation At l April 2024 Addition5 Valuation changes Cash movement Disposals 1,290,678 131,821 151,8621 16,676 1,307,354 131,821 151,8621 19,3731 1128,6011 19,3731 1128,6011 At 31 March 2025 1.242,036 7,303 1.249.339 Carrylng amount At 31 March 2025 1,242,036 7.303 1,249,339 At 31 Marth 2024 1,290,678 16.676 1.307,354 The historical cost of listed investments is £982,15312024- £963,5801 15 Flnandal Instruments 2025 2024 Carrylng amount of flnandal assels { Group) Instruments measured at fair value throu8h profit or loss 4,340.393 4.327,821 Carrylftg amount of flnan¢lal assets I Companyl Instruments measured at fair value through profit or loss 1.242.036 1.290,678 -30-
JAMES HIRONS NOTES TO THE FINANCIAL StATEMEf4TS (cof4TINUED) FOR THE YEAR ENDED 31 MARCH2025 16 Debtors Group Parent charltable company 2024 2025 2024 Amounts falling due within one year: Trade debtors Prepayments and accrued income 22,362 14.436 10.381 17,717 22,362 14,436 10,381 17,717 36,798 28,098 36,798 28,098 17 Creditots: amounts falling due WbthiTh ono ar Group Parent tharllable companv 2024 2025 2024 2025 Other taxation and social security Trade creditor5 Other creditors Accruals and deferred income 18,126 26,457 9,245 130,438 15,266 43,444 9,123 114.997 18,126 26,457 9,245 126,754 15,266 43,444 9.123 111.697 184,266 182,830 180,582 179,530 18 Retirement benefit schemes 202S 2024 Defined contribution schemes Charge to proflt or loss In respect of defined contribution schemes 45,504 41,195 The charity operates a defined contribution pension scheme for all quallfylng employees. The assets of the scheme are held separately from those of the charity in an independently admlnlstered fvnd. 31
JAMES HIRONS N4JfES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH2025 19 End¢)wmÈnt funds Endowment fund5 represent assets whlch must be held pemianently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the tharity and is included a5 unrestrirted income. Any capital gains or losses arising on the assets fom) part of the fund. Atl April Resources 2024 expended Galns and At 31 Marth losses 2025 Pemianent endowments Evelyn Partners- Main Account Freehold land and buildin& and property improvements 3,062.945 114,6561 56,077 3,104,366 1,167.392 125,3831 1,142,009 4.230.337 140,0391 56,077 4,246,375 Prevlous year: At i Aprfl 2023 Resources expended Galns and At 51 March losses 2024 Pemianent endowments Evelyn Partners- Main Account Freehold land and buildin& and property improvements 2,864.304 111.4131 210,054 3,062,945 1.197,404 130,0121 1.167.392 4,061,708 141,4251 210,054 4,230,337 Evelyn Partners - Main Account endowment funrls pertain to the unincorporated charity and Freehold land and building endowment funds pertain to the parent company endowment funds. 32-
JAMES HIRONS NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Analysls of net assets between funds- group Unres¢rirted Endowment funds nds 2025 2025 Total 2025 At 31 March 2025: Tangible a55ets Investrnents Current assetsllllabilftlesl 33,703 1,249,339 92.095 1.142,009 3,108,050 13,6841 1,175,712 4,357.389 88.411 1.375,137 4.246,375 5,621,512 Unrestrlcted Endowment funds tunds 2024 2024 Total 2024 At 31 March 2024: Tangible assets Investments Current asset111abI11tiesl 45.860 1,307,354 106.120 1,167,392 3,066,245 13.3001 1,213,252 4,373,599 102,820 1,459,334 4,230,337 5,689,671 AII LFnrestricted funds pertain to the parent charitable company. only endowment funds pertaining to the tangible fixed asset relate to the parent company. 21 Related party tr4nsa¢tlons There were no disclosable related party transactions during the year12024- none). 22 Analysis of thanges in net funds The charlty ha(1 no material debt during the year. -33-
JAMES HIRONS NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 23 Cash ynerated from operations 2025 2024 Deficit forthe year 168,1591 134,6821 Adjustment5 for: Investment income recognised in statement of financial activities L05s on disposal of investments Fair value gains and losses on investments Depreciatlon and Impairment of tan8ible fixed assets 1125,4061 6,033 110,2481 37,539 1131,3371 7,564 1308,0411 32,783 Movements in working capltal= Ilncreaselldecrease in debtors Increa5elldecreasel in creditors 18,7001 1,436 9,463 12,251) Cash absorbed by operations 1167,5051 1426,5011